If you’re lucky enough to have $10,000 sitting in a savings account, then now could be an opportune time to invest it.
After all, the S&P/ASX 200 Index (ASX: XJO) is still down 25% from its February high and interest rates are at historical lows and unlikely to improve any time soon.
With that in mind, here are three ASX 200 shares that I believe would be worth considering as investments:
Appen Ltd (ASX: APX)
Appen is a provider of human annotated dataset development services. The company’s million-strong crowd sourced team of experts prepare the data that goes into the machine learning and artificial intelligence models of some of the world’s biggest tech companies. Given the growing importance of this technology and expectations that spending on it will grow materially over the next decade, I believe Appen is well-placed for long term growth.
CSL Limited (ASX: CSL)
Another option for investors to consider buying is this biotherapeutics giant. I think CSL is well-placed to be a market beater again over the next decade thanks to the quality of its therapies and the high level of investment in research and development it makes each year. In respect to the latter, in FY 2019 CSL invested a massive US$832 million in R&D activities across its businesses. I expect these investments to bear fruit over the coming years and cement its position at the leader in its field.
NEXTDC Ltd (ASX: NXT)
Another company which I think could be a great option for a $10,000 investment is NEXTDC. The data centre operator has been growing very strongly over the last few years thanks to the increasing amount of data being generated by both consumers and businesses. And with data consumption only going to increase in the future as more software moves to the cloud and 5G internet adoption grows, the future looks bright for NEXTDC.
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Returns as of 7/4/2020
More reading
- 2 ASX shares that could set you up for life
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- 3 must-read investing books for new investors
- Leading brokers name 3 ASX shares to sell today
- Is ‘buy-and-hold’ the best way to invest in ASX shares?
James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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